About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Agio Technology Undergoes Rapid Growth, Driven by Increased Hedge Fund Demand for Managed IT Services

Subscribe to our newsletter

Agio Technology, a provider of managed IT services for premier hedge funds, today announced that it marks its first full year of operation. Agio experienced a rapid expansion of its business, driven by the extensive hedge fund pedigree of its management team and the increasing trend in the hedge fund industry to outsource non-core technology functions.

Since it opened its doors on 15 January 2010, Agio has achieved an impressive track record of growth. Company highlights include: growing its client base to 17 hedge funds, including SAC Capital Advisors, one of the largest hedge funds in the US; building a work force of 52+ employees; opening satellite offices in New York and Hong Kong; gaining approval from Hewlett Packard Co. as one of its National Enterprise Storage Resellers, one of only 60 companies of the estimated 20,000 HP Authorised Solution Partners in the US to earn that distinction; gaining profitability.

“We are extremely proud of what we have accomplished in a relatively short period, particularly in a challenging economic environment in 2010,” said CEO Bart McDonough. “There is a great acceptance of Agio and our story on the Street. We are confident that our business will continue to demonstrate sustainable growth as a result of several factors: improving economic conditions, inner-firm efficiencies that include reducing IT costs, and the on-going trend of hedge funds focusing more on their core competencies. These core competencies include providing successful investment strategies and a high rate of return for their clients. They will agree, that’s a far better use of their time than managing email.”

Chris Corrado, Co-CTO, SAC Capital Advisors, acknowledged that his firm has benefited from its relationship with Agio. Corrado said: “Our long-running history with the founding team of Agio Technology gave us the peace of mind to forge forward into the outsourcing arena. We know first-hand their ability to manage the scale and dynamics of our environment and provide the most current technology to deliver services. Through our unique arrangement with Agio, we have been able to outsource the services we now consider to be commodities, expand our service windows, improve the overall end user experience, and spend our time focused on the work that matters most for us and our business. Our bar is very high, for ourselves and our vendors. Agio’s team has been put through the rigors of what it means to execute mission-critical services for a large and dynamic hedge fund like SAC. They meet every challenge head on.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Potential and pitfalls of large language models and generative AI apps

Large language models (LLMs) and Generative AI applications are a hot topic in financial services, with vendors offering solutions, financial institutions adopting the technologies, and sceptics questioning their outcomes. That said, they are here to stay, and it may be that early adopters of Generative AI apps could gain not only operational benefits, but also...

BLOG

Generative AI in 2024 – The Look Ahead for Investors

By Marsal Gavaldà, CTO, Clarity AI. Unlike some technology trends, the hype around generative artificial intelligence (AI) will not fade, and I expect AI to remain a priority for investors in 2024. The emergence of generative artificial intelligence (GenAI) is a watershed moment in the tech industry, as transformational as the advent of the internet,...

EVENT

RegTech Summit New York

Now in its 8th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

The Reference Data Utility Handbook

The potential of a reference data utility model has been discussed for many years, and while early implementations failed to gain traction, the model has now come of age as financial institutions look for new data management models that can solve the challenges of operational cost reduction, improved data quality and regulatory compliance. The multi-tenanted...